SE Asia Stocks - Thai construction shares fall; Indonesian banks lead declines

viernes 12 de septiembre de 2014 05:08 GYT
 

BANGKOK, Sept 12 (Reuters) - Thai shares retreated on
Friday, heading for their first weekly loss in more than a
month, as investors cashed in on recent gains in construction
stocks, while in Indonesia the index edged higher amid caution
over a likely end to fuel subsidy.
    Data from the United States was also a key market focus,
including the release of U.S. retail sales later on Friday and
the Federal Reserve's statement next week, which could provide
an indication to foreign fund flows to the region.
 
    The Thai benchmark SET index fell 0.3 percent,
dragged down by losses in construction-related shares such as
cement firm Siam Cement Pcl and contractor Ch Karnchang
Pcl.
    The index is on track for a weekly loss of 0.6 percent after
five straight weeks of gains.
    Investors also took profits after Prime Minister Prayuth
Chan-ocha's policy speech to the parliament early on the
day. 
    "Much of the expectations about the government's policy have
been discounted into the market. It's positive for the domestic
economy but investors also cut their risk positions due to
external factors," said a strategist at Phillip Securities.
    Jakarta's Composite Index traded up 0.4 percent, but
was poised for a drop of more than 1 percent on the week. 
    Foreign-led selling hit banking shares, with Bank Rakyat
Indonesia, Bank Mandiri and Bank Central
Asia among the actively traded.
    Indonesia needs to raise fuel prices before March and
preferably by the end of 2014 to ease pressure on the current
account and let the central bank focus on the weakening economy,
a senior Bank Indonesia official said on Friday. 
    Others in Southeast Asia are set for a mixed performance on
the week, with Singapore up 0.3 percent and Malaysia
 down 0.3 percent.
    The Philippines closed flat on Friday, ending the
week almost 1 percent lower. Vietnam finished up 0.6
percent on the day and was down 1 percent on the week.
    
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SOUTHEAST ASIAN STOCK MARKETS
 Change at 0822 GMT
 Market             Current     Prev Close    Pct Move
 Singapore          3350.46       3347.28       +0.10
 Kuala Lumpur       1863.40       1866.11       -0.15
 Bangkok            1576.20       1580.87       -0.30
 Jakarta            5153.55       5133.03       +0.40
 Manila             7201.88       7202.06        0.00
 Ho Chi Minh         632.50        628.99       +0.56
 
 (Reporting by Viparat Jantraprap; Editing by Prateek
Chatterjee)